FX.co ★ European Economic News Preview: UK GDP Data Due

Monthly GDP, industrial output and foreign trade data from the UK and industrial production from the euro area are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial output and foreign trade figures. The economy is forecast to shrink 0.2 percent on month, in contrast to the 0.5 percent rise in June.

The UK visible trade deficit is seen widening to GBP 16 billion in July from GBP 15.45 billion in June. Economists forecast industrial output to fall 0.6 percent reversing June's 1.8 percent increase.

At 2.30 am ET, the Hungarian Statistical Office publishes final industrial output data for July.

At 5.00 am ET, Eurostat is scheduled to issue euro area industrial production for July. Industrial output is expected to fall 0.7 percent month-on-month, in contrast to the 0.5 percent increase in June.

At 8.00 am ET, foreign trade and current account reports are due from Poland.